White Paper

Lending restrictions create mortgage opportunity for community financial institutions

As the bigger banks close many customers out of borrowing and refinancing, they are tying a loophole just wide enough for community banks and credit unions to slip through, seizing market share as they go, while assisting community members most impacted by the Covid-19 crisis.

As Covid-19 reached pandemic proportions in early 2020, the United States Fed took quick and decisive action to shore up the economy, buying hundreds of billions of dollars of mortgage-backed securities. The move was meant to provide banks with extra liquidity to help struggling borrowers as the pandemic forced business closures and jobless rates soared. As the bigger banks close many customers out of borrowing and refinancing, they are tying a loophole just wide enough for community banks and credit unions to slip through, seizing market share as they go.

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